REUTERS: McDonald's Corp plans to pause the reopening of its dine-in service by 21 days in the United States as the number of coronavirus cases rise in the country, according to a letter seen by Reuters. The fast-food chain that saw a 30per cent dip in global sales in the first two months of the current quarter, has been hurt by the shut down of its restaurants. During the coronavirus-induced lockdowns, fast-food restaurants had to limit operations to drive-through, takeaway and delivery through third-party apps as dining-in remained closed, leading to lower sales. (Reporting by Neha Malara; Editing by Shounak Dasgupta) … [Read more...] about McDonald’s to pause US reopening of dine-in services by 21 days
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SoftBank kicks off US$21 billion sale of T-Mobile shares
NEW YORK: SoftBank Group Corp unveiled a series of transactions on Monday to divest more than US$21 billion worth of stock in U.S. wireless carrier T-Mobile US Inc, as it seeks funding for a US$41 billion share buyback and debt reduction plan. SoftBank's shares have more than doubled since the middle of March, despite the economic uncertainty fueled by the COVID-19 pandemic, as CEO Masayoshi Son moves to shed or trim its stakes in other companies such as Alibaba Group Holding. While the divestments have bankrolled a string of share buybacks, delighting investors including hedge fund Elliott Management Corp, they have raised concerns among credit ratings agencies about the Japanese conglomerate's financial standing. They come after several of SoftBank's investments, including on office space-sharing start-up WeWork and payment processor Wirecard AG, soured, and it suspended efforts to raise a successor to its US$100 billion Vision Fund. Many of the T-Mobile shares divested by … [Read more...] about SoftBank kicks off US$21 billion sale of T-Mobile shares
China reports 28 new coronavirus cases, including 21 in Beijing
SHANGHAI: China reported 28 new coronavirus cases as of Jun 17, 21 of which were in the capital of Beijing, the country's health commission said on Thursday (Jun 18). The National Health Commission said four of the 28 cases were imported ones involving travellers from overseas, and that there were eight new asymptomatic coronavirus cases. READ: Beijing cancels flights, shuts schools over new COVID-19 outbreak A day earlier, the commission reported 44 confirmed cases, 11 of which were imported, and 11 asymptomatic cases. The total number of confirmed cases stands at 83,293. The death toll remains unchanged at 4,634. China does not count asymptomatic patients - those who are infected with the coronavirus but have no symptoms - as confirmed coronavirus cases. The new cases bring the total in Beijing to 158 over the past week – the worst outbreak in the city since early February. BOOKMARK THIS: Our comprehensive coverage of the coronavirus outbreak and its … [Read more...] about China reports 28 new coronavirus cases, including 21 in Beijing
21 applications for digital bank licences: MAS
SINGAPORE: Singapore’s central bank has received 21 applications for digital bank licences at the close of application on Dec 31, 2019. There were seven applications for the digital full bank licences and 14 applications for the digital wholesale bank licences, the Monetary Authority of Singapore (MAS) said in a media release on Tuesday (Jan 7). Applicants include e-commerce firms, technology and telecommunications companies, fintechs and financial institutions. "The majority of applicants are consortiums, with entities seeking to combine their individual strengths to enhance the digital bank’s value proposition," said MAS. READ: MAS opens applications for 5 new digital bank licences The five licences on offer include two digital full bank licences and three digital wholesale bank licences. Digital full banks will be allowed to take retail deposits, while digital wholesale banks will focus on serving small and medium enterprises and other non-retail segments. These … [Read more...] about 21 applications for digital bank licences: MAS
Lori Lightfoot’s Chicago: At Least 21 Shot over Weekend
At least 21 people were shot, five fatally, over the weekend in Mayor Lori Lightfoot’s (D) Chicago. Yesterday, Breitbart News noted there were four homicides between Friday and just after midnight Sunday morning. ABC 7 / Chicago Sun-Times reports that a fifth homicide occurred just after 11 a.m. Sunday when a male “in the 1400 block of North Mayfield Avenue” was shot in the head. He was taken to the hospital and pronounced dead. This weekend’s non-fatal shootings include two drivers who were shot Friday night while driving on the Eisenhower expressway. A male and female were both treated for gunshot wounds after someone opened fire around 8:20 p.m. The Chicago Tribune reports that 388 people were shot in Chicago from January 1, 2021, through February 26, 2021, including fatal and non-fatal shootings. As for homicides only, 81 people were killed from January 1, 2021, through February 25, 2021. AWR Hawkins is an award-winning Second Amendment columnist for … [Read more...] about Lori Lightfoot’s Chicago: At Least 21 Shot over Weekend